1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kotykmax [81]
2 years ago
12

A lottery sells 1000 tickets at $1 apiece. There is one winner who receives $100, and 5 second place winners who receive $50 eac

h. What is the expected value of a ticket?
Advanced Placement (AP)
2 answers:
Blizzard [7]2 years ago
8 0

Answer: The expected value of a ticket is  - $0.625

Explanation: The expected value is calculated as:

E = ∑pₙxₙ

where pₙ is the probability that the event xₙ occurs.

We have 3 events, first place, where x = $99 and p = 1/1000, second place, where x = $49 and the probability is 5/1000 and the ones that dont win nothing, where x= -$1 and the probability is 996/1000

where i used 99$ and 49$ for the prices because i am discounting the $1 for the ticket.

then the expected value is:

E = ($99 + 5*$49 - 996*$1)/1000 = - $0.625

wich means that in average you lose money in this game

erma4kov [3.2K]2 years ago
4 0

<span>A lottery sells 1000 tickets at $1 apiece. There is one winner who receives $100, and 5 second place winners who receive $50 each. What is the expected value of a ticket?         =</span>$0.65





You might be interested in
The federal government regulates wheat production in order to maintain interstate trade. Which constitutional clause supports th
scoray [572]
Commerce clause :) hope it helped
4 0
3 years ago
100 Points!
ELEN [110]
1.Scientists believed that chemical
7 0
2 years ago
A leaky sewage pipe in a residential neighborhood is likely to pollute a nearby aquifer with which of the following contaminants
yanalaym [24]
Natural environment has the ability to gather some pollutants yet if too much then the environment could no longer handle it. A leaky sewage can pollute an aquifer with I. arsenic as the contaminant. Arsenic is a metalloid existing in the Earth's crush. Exposure is natural yet can be aggravated by the human activities.
3 0
3 years ago
Which distinction does Rollo May make between a word such as "table" and a word such as "beauty”?
larisa86 [58]

Answer:

Benedict de Spinoza was among the most important of the post-Cartesian philosophers who flourished in the second half of the 17th century. He made significant contributions in virtually every area of philosophy, and his writings reveal the influence of such divergent sources as Stoicism, Jewish Rationalism, Machiavelli, Hobbes, Descartes, and a variety of heterodox religious thinkers of his day. For this reason he is difficult to categorize, though he is usually counted, along with Descartes and Leibniz, as one of the three major Rationalists. Given Spinoza's devaluation of sense perception as a means of acquiring knowledge, his description of a purely intellectual form of cognition, and his idealization of geometry as a model for philosophy, this categorization is fair. But it should not blind us to the eclecticism of his pursuits, nor to the striking originality of his thought. Among philosophers, Spinoza is best known for his Ethics, a monumental work that presents an ethical vision unfolding out of a monistic metaphysics in which God and Nature are identified. God is no longer the transcendent creator of the universe who rules it via providence, but Nature itself, understood as an infinite, necessary, and fully deterministic system of which humans are a part. Humans find happiness only through a rational understanding of this system and their place within it. On account of this and the many other provocative positions he advocates, Spinoza has remained an enormously controversial figure. For many, he is the harbinger of enlightened modernity who calls us to live by the guidance of reason. For others, he is the enemy of the traditions that sustain us and the denier of what is noble within us. After a review of Spinoza's life and works, this article examines the main themes of his philosophy, primarily as they are set forth in the Ethics.

Explanation:

6 0
2 years ago
ANY AP BIO TEACHERS OR PPL WHO KNOW AP BIOLOGY?????
attashe74 [19]
I can try what’s the question
6 0
3 years ago
Other questions:
  • Alcohol is a _______.
    11·2 answers
  • Describe why bacteria that live within the root nodules of a soy bean plant are a critical part of the nitrogen cycle please
    12·1 answer
  • Why was the Virginia Plan introduced and amended and the New Jersey Plan introduced and rejected?
    5·1 answer
  • Catherine often switches from project to project because she thinks she gets more done that way. She also doesn't get bored as o
    13·2 answers
  • Ano pong meaning ng kasukdulan help po please j just need an answer​
    8·1 answer
  • Read these two passages from 1788, which are related to the debate over the ratification of the Constitution.
    5·1 answer
  • Chris creates a test that yields the same results as the Wechsler Intelligence test. His test is high in:
    9·1 answer
  • This assignment is due is half an hour and I'm really lost
    8·1 answer
  • Psychology
    11·1 answer
  • Why is it significant that the famed Great Wall of China that we see today was actually constructed by the Ming Dynasty in the E
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!